1. As for Mexico itself, the peso has stabilized at around six to the dollar, from near eight at the height of the crisis. 2. As the peso stabilizes, the central bank has promised to lower interest rates. 3. Further, Granik noted, the peso has stabilized over the past year. 4. If the peso stabilized, inflation would be easier to control, minimizing the effect of the latest crisis on the purchasing power of Mexican consumers, economists say. 5. Scared by the devaluation, many merchants, particularly those selling higher-priced electronic goods, are not buying any more merchandise until the peso stabilizes. 6. At this point, our own economists feel that the peso has more or less stabilized. 7. But the peso will only stabilize when Asia stabilizes. 8. Others have been making fearless forecasts on the exchange rate at which the peso would stabilize. 9. This is a believable theory, assuming a clear winner in the national elections will emerge, and the peso will stabilize. 10. In Manila, the Philippine peso stabilized against the US dollar Monday on heavy Central Bank intervention after it taking a beating last Friday, officials said. |